OZ Minerals Ltd
(ASX:OZL) has posted a turnaround full year net profit of $586.9 million, after booking a loss of $517.3 million the year before.
In the 2010 calendar year the miner says revenue at its Prominent Hill mine in South Australia climbed 85.4 per cent to over $1 billion.
Oz Minerals says the result is pleasing and follows a year of successful operations at Prominent Hill coupled with record prices for its commodities, copper and gold.
The company has declared an unfranked full year dividend of 4 cents per share.
Oz Minerals generated a first half net profit of $405.7 million in the first six months of 2010.
